Milan, May 26, 2026, 11:02 CEST
Ferrari shares slid roughly 6% to 291.38 euros in Milan on Tuesday, with the stock pressured after the company showed off its first electric car, the Luce. That left Ferrari one of the biggest fallers among large European automakers early in the session.
The selloff is important since the Luce isn’t just a routine model update. This is Ferrari’s first major shot at proving its brand—known for combustion-engine noise, exclusivity, and high resale values—can keep its pricing muscle as it moves to electric vehicles, or EVs. These run on batteries, not petrol engines.
The selling was notable, since the broader market stayed quiet. Reuters said Ferrari shares dropped 7% earlier, heading for their steepest drop since October. The pan-European STOXX 600 barely moved, but autos and parts names were down 2%.
Ferrari showed off its new four-door, five-seat Luce in Rome on Monday. The Luce, Italian for “light,” will cost 550,000 euros. It puts out more than 1,000 horsepower and goes over 310 kph, with over 500 km of range. Deliveries are set for the fourth quarter of 2026. CEO Benedetto Vigna said it’s “the result of five years of work.” Commercial chief Enrico Galliera said it’s “absolutely stunning.” Reuters
Ferrari worked with Jony Ive and Marc Newson’s LoveFrom to design the car, taking it in a more pared-down, minimalist direction instead of Ferrari’s typical low-slung style. The Verge reported that the Luce is Ferrari’s second four-door and the first five-seater, packing four motors for 1,035 horsepower.
Pierre-Olivier Essig, head of research at AIR Capital, didn’t hold back, saying the Luce is “a mix between a Honda Accord EV and a Tesla 3,” and calling Ferrari’s new strategy “lost in translation.” Shares in Milan dropped as much as 7.8% right after the reveal, according to Cinco Días citing Bloomberg. Cinco Días
Lamborghini and Porsche have both held back on strong bets for luxury EV demand. Ferrari is moving the other way, pressing ahead with a pricey electric model pitched at families and younger customers not as interested in V8 or V12 engines.
Ferrari still has cushions that most carmakers don’t. The company this month kept its 2026 EBITDA target at no less than 2.93 billion euros and reported a 4% rise in first-quarter EBITDA to 722 million euros. CEO Benedetto Vigna said the order book keeps stretching out to late 2027, and he’s not seeing any “strange” or “abnormal” cancellations. Reuters
The backlog means investors are looking forward, not just at this quarter. Ferrari makes and sells few cars, but gets high prices for custom features and controls supply. A low-volume EV could still move the stock if it shifts how the market sees the brand.
Luce could end up as an expensive experiment instead of a real profit driver. Margins and sentiment might take a hit if luxury demand stays soft, used EV prices keep slipping, or U.S. tariffs hit European cars. Pushback on the design could add to the pressure, even if early orders look fine.
Milan markets ran as usual on Tuesday. May 26 isn’t on Borsa Italiana’s 2026 holiday schedule, and Euronext Milan kept its typical 9:00 a.m. to 5:30 p.m. CEST trading hours.
